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German economy grows by 0.1% in Q3

by ChemOrbis Editorial Team -
  • 25/11/2014 (17:59)
According to data released by Federal Statistical Office of Germany (Destatis), Germany’s economy grew 0.1% on a quarterly basis in the third quarter of this year after posting a decrease of 0.1% in the previous quarter, which stands in line with the initial estimates published on November 14. The increase was attributed to a strong rise in consumer spending and higher exports.

The country’s exports increased 1.9% while imports were also up 1.7% in the third quarter. Government spending rose 0.6% while private consumer spending climbed 0.7% in the three months ended September. The manufacturing and services activity grew at the slowest pace in 16 months in November and capital investment decreased 0.2% in the third quarter because of uncertainty regarding Eurozone demand.

In addition, it was reported that thousands of German companies have suffered from European Union sanctions against Russia.
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